In a letter submitted to the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) requested penalty relief for qualified farmers due to changes made to the instructions for Form 8995, Qualified Business Income Deduction Simplified Computation. The changes create a shortened filing window and may cause a disadvantage to some qualified farmers outside of their control.

CIMA reacts to the UK Government’s Spring Forecast.

CIMA responds to the latest report from the Office for Professional Body Anti‑Money Laundering Supervision (OPBAS).

The AICPA is signaling its strong support for a bipartisan bill which contains 63 provisions designed to improve tax administration and reduce the burdens on taxpayers and their preparers.

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A practical, step-by-step guide to evaluating and selecting AI models that reduce risk, improve ROI, and accelerate confident business decisions.

Following the release of the Department of Education’s Notice of Proposed Rulemaking (NPRM) titled Reimagining and Improving Student Education, the AICPA submitted its response acknowledging the Departments efforts to clarify the definition of “professional,” and urging the incorporation of similar language into the final rule, making the intent clear within the Code of Federal Regulations itself.

The AICPA has requested guidance from the Department of the Treasury and the Internal Revenue Service (IRS) on how individuals, estates and trusts should report income taxes under the newly enacted H.R. 1 (One Big Beautiful Bill Act). The letter focuses on Section 70111, which modifies the Section 68 limitation on itemized deductions (LID) and also provides comments on Notice 2025 68, outlining the IRS’s planned regulations for Section 530A Trump accounts, including guidance related to gift tax reporting.